Copper Rallies on Growing Supply Concerns
Copper future rallied on mounting concerns that demand will outpace global supplies by as much as 600,000 tonnes in 2011.
Articles Tagged "international copper study group"
Copper Ranks First as Morgan Stanley’s Richardson Forecasts Metals Rally
Bloomberg reports that Copper will lead a rally in base metals into 2011.
Copper Narrows Losses
WIth central banks cutting interest rates globally copper has narrowed its losses after having fallen more than seven percent with financial crisis concerns. The U.S. Federal Open Market Committee, the policy-setting arm of the U.S. Federal Reserve, cut benchmark lending rates by half a percentage point to 1.5 percent in an action coordinated with other central banks. [...]
Copper Drops as Dollar Firms
Copper futures dropped almost three percent as investors cashed in on the recent high. Concerns about the US government’s bailout strategy as well as a firm dollar supported selling. Copper’s softer tone attributed to weakness in crude oil prices and a slight rebound in the U.S. dollar – traders. Uncertainty about the U.S. government’s $700 [...]
Copper Market Deficit
The International Copper Study Group found world refined copper usage was higher than production by 155,000 tonnes between the months of January and May 2008. The same period a year-ago showed a 238,000 tonne deficit. The Lisbon-based ICSG said world refined copper output in January to May was 7.553 million tonnes, while consumption totaled 7.708 [...]
